Research Institute Project: TON (The Open Network) Project Analysis Report
1. Research Institute Review
In 2018, Telegram conducted two rounds of ICO financing for its blockchain project TON, raising a remarkable $1.7 billion. Telegram withstood pressures from governments and competitors but succumbed to strong regulatory actions, eventually settling with the U.S. Securities and Exchange Commission (SEC) and refunding 72% of investors' funds. Telegram was forced to halt active development of TON. An active open-source community continued to maintain the network and build new TON features, achieving success based on Telegram's design. TON's topics on Twitter, #Toncoin and #TON, demonstrate its active and engaged community, and it has been listed on multiple exchanges.
2. Recent Highlights
TON has introduced its new token bridge service, allowing unrestricted conversion between ERC-20 tokens and TON's Jetton (TON's fungible token standard). TON collaborated with MORGENSHTERN (a Russian rap artist) for a 200,000 Toncoin airdrop, garnering significant attention and participation. TON partnered with DoraHacks (a global hackathon organization) to host a global hackathon event, providing innovation and solutions for the TON ecosystem. A username auction has been launched on the TON blockchain through the Fragment website, enabling users to transact with Toncoin. Users will be able to log in to the website using Telegram, the tonkeeper application, or TON-based wallets. The website will also assist users in linking their Telegram accounts to the usernames they purchase.
3. Project Introduction
TON (The Open Network) is a blockchain platform initiated by Telegram's founders, Nikolai and Pavel Durov, which was later handed over to the TON open community. This community has continuously supported and developed the blockchain. The TON blockchain can handle millions of transactions per second. The TON ecosystem will combine blockchain, payment platforms, TON Proxy, file storage, and other decentralized services. TON's native token is Toncoin, and it can be traded on multiple cryptocurrency platforms.
4. Token Utility
Toncoin serves as fuel for the ecosystem. This token is used within decentralized applications (DApps) for transaction processing fees, cross-chain transaction fees, and staking payments to secure the blockchain and its services. Its use cases also include payment for decentralized data storage, TON DNS/TON Proxy, and other fees in decentralized services. Additionally, validation fees are paid in TON. Users can also vote on TON governance proposals and development changes using TON.
5. Token Economic Model
TON's token economic model is inflationary, meaning new Toncoin is generated each year to reward network participants and developers. The inflation rate gradually decreases over time, eventually approaching zero. There is no upper limit to the total supply of Toncoin, but it is expected that the circulating supply will reach 5 billion Toncoins by the end of 2028. Toncoin's role is to provide incentives and security mechanisms for the TON network, allowing users to access various TON services and participate in network governance.
6. Project Highlights
It is a blockchain platform based on Telegram, leveraging Telegram's massive user base and strong social network effects, driven and managed by the community, without centralized control or interference.
7. Investment Institutions
In 2018, TON raised $1.7 billion through two private rounds of fundraising, with participants including prominent venture capital firms like Benchmark, Sequoia Capital, Kleiner Perkins, as well as individual investors. In 2020, due to an SEC injunction, TON had to refund the majority of the funds raised to investors and relinquished control of the project. In 2021, the TON open community established a $250 million foundation, with investors including Huobi Incubator and Kucoin Ventures, to support entrepreneurs and developers in building projects on the TON blockchain.
8. Community
Twitter: 276.6K followers, with the largest user base from the United States, India, Russia, Brazil, and Turkey. Telegram: TON's official channel has 16.9K subscribers, with the most subscribers from Russia, Iran, India, Pakistan, and Turkey.
9. Special Economic Model
None.
10. Future Outlook
TON is community-driven and managed, without centralized control or interference. The future outlook for TON is very optimistic. It offers several advantages, such as being based on Telegram's blockchain platform, which can leverage Telegram's vast user base (over 500 million active users) and strong social network effects. TON is a multi-layered, multi-chain, and multi-dimensional blockchain platform, enabling cross-chain interoperability, compatibility with other mainstream blockchain platforms like Ethereum, and bridge connections.
TON is an open and autonomous blockchain platform, driven and managed by the community, with no centralized control or intervention.
Basic Information
Project Introduction: TON (The Open Network) is a blockchain platform initiated by Telegram's founders, Nikolai and Pavel Durov, which was later handed over to the TON open
community. This community has continuously supported and developed the blockchain. The TON blockchain can handle millions of transactions per second. The TON ecosystem will combine blockchain, payment platforms, TON Proxy, file storage, and other decentralized services. TON's native token is Toncoin, and it can be traded on multiple cryptocurrency platforms.
Full Name: The Open Network
Token Name: TON
Project Website: https://ton.org/
Project Documentation: https://docs.ton.org/
Blockchain Explorer: https://etherscan.io/token/0x582d872a1b094fc48f5de31d3b73f2d9be47def1
Liquidity Query: https://etherscan.io/address/0x582d872a1b094fc48f5de31d3b73f2d9be47def1
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2023/11/25